Claims manager masquerades as FSCS

The company, which uses the FSCS acronym in online search advertising, is seeking payment protection insurance claims (PPI) from consumers. It charges a 20% fee for its services - unlike the FSCS which is free to consumers and funded by the financial services industry. With its 20% fee, consumers stand to lose around £906 on an average claim on the basis the average pay-out of such companies is £4,534. The FSCS estimates consumers could pay as much as £12m in total fees to claims management companies this year. It added paying a third party to submit a claim does not significant...